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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Canadian dollar drops toward parity with U.S. dollar

Apr 04, 2012 10:05 AM

Wednesday saw the Canadian dollar's sharpest slide in value against the world's reserve currency in one week, according to Bloomberg.

Pulling down the loonie against its southerly counterpart are the projections of a Canadian jobs report to be released on Thursday that will demonstrate development and growth of the employment in the nation is slowing down. On Friday, the U.S. - a top trade partner to Canada - is scheduled to release its jobs report.

"What is good for the U.S. economy and U.S. dollar is OK for the Canadian dollar," states a Wednesday morning note penned by chief currency strategist Shaun Osborne with TD Securities, according to Dow Jones Newswires.

Risk appetite was on the wane as the value of global stocks was falling as a consequence of a Spanish bond auction seeing reduced demand.

Canadian employers in March added 10,500 jobs to payrolls, the median of a Bloomberg survey of economists indicates.

The loonie's performance on Wednesday was driving toward parity with the U.S. dollar, according to Dow Jones Newswires. But no significant Canadian economic indicators are scheduled for release on Wednesday.

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